Join PLEP's weekly discussion:
A Basic Overview of the Current Crisis:
Steven L. Schwarcz, Markets, Systemic Risk, and the Subprime Crisis, 61 S.M.U. LAW REV. (forthcoming 2008), available at http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1102326
What Could and Did Regulators Expect Ex Ante:
REPORT OF THE PRESIDENT’S WORKING GROUP ON THE FINANCIAL MARKETS, HEDGE FUNDS, LEVERAGE, AND THE LESSONS OF LONG TERM CAPITAL MANAGEMENT (1999), available at http://www.treas.gov/press/releases/reports/hedgfund.pdf.